Madbid.com

[JamesG]

Does anyone know anything about Madbid.com?

Any tactics?

[sophiesofa]

Is it one of those sites that charges you each time you place a bid? If so I think the odds are highly stacked against you. If you do give it a go allow yourself only a certain amount of bids otherwise you could end up spending hundreds just bidding.

[Huguenot]

Indeed, it's a bit like a lottery.

You pays for a ticket, and you pays your bid for the product.

The number of bids more than pays for the retail price of the product. They may even not have it in stock. They can buy it over the counter with the ticket revenue and dispatch to the highest bidder.

Neat idea.

It really depends on how many people are bidding. The more, the less your chances of winning. If the number of losing bids exceeds your 'discount' then you're losing.